Private equity firm SK Capital Partners (New York) has closed its $200-million acquisition of Chemtura’s antioxidants and ultraviolet stabilizers business, which was announced in November. The business, which reported $390 million in sales for the 12 months ended 30 September 2012, will change its name to Addivant. Peter Smith, who has led the business since 2009, has been named its CEO. The new company will be pursuing joint ventures in Asia and the Mideast, and expanding its technical sales force, Smith Says. “With the recent exploitation of...